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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (152570)	7/7/2023 2:12:33 PM
From: Goose94	Read Replies (2) of 202085

Air Canada (AC-T) top pick from Jamie Murray on BNN.ca Market Call Friday June 7th @ 1200ET Air Canada raised its 2023 guidance by $1 billion in early May on lower fuel costs, highlighting the upside to earnings as travel demand remains healthy. Consolidation in the Canadian market should benefit Air Canada as its duopoly with WestJet remains firmly entrenched. International travel, particularly to Asian countries, should provide additional growth in 2024. As well, with corporate travel owning a smaller share of the market post-pandemic, we believe air travel will be slightly more resilient in future recessions. Air Canada will generate over $2 billion in free cash flow which will be used to reduce debt in the short term, but longer term may be used for share buybacks or further route expansion. Our target price is $30.

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